What Is The Best Leasing Or Finance Solution For A 2nd Hand Vehicle..?

[seejaylk]

What is the best Leasing or Finance solution for a 2nd Hand vehicle..?

I'm planning to buy a with a lease (budget 12lks = 3 + lease).., really appreciate if you guys can share your ideas about this matter..

thanks

[Devinda_Z]

heard DFCC had good rates - Supra Natural & Milindu might be able to share more

[Bugatti]

If you opt for a lease.. there's the VAT component you gotta pay right? why not a car loan..? most banks offer this. Also, since the interest rates on loans were revised, might be worthwhile checking out.

[milindu]

What is the best Leasing or Finance solution for a 2nd Hand vehicle..?

I'm planning to buy a with a lease (budget 12lks = 3 + lease).., really appreciate if you guys can share your ideas about this matter..

thanks

Cheapest places to lease are the banks. Specially if you have a good credit rating/ history and a relationship with the bank. But the regulations and policies are a bit on the strict side where the bank might accept only a vehicle below a certain age.

The leasing companies are a bit easier on you but the rates can be as much as 5-6% higher (Effective Rates).

If you are a non vat registered entity, a hire purchase is marginally cheaper when it comes to registered vehicles as VAT is not applied.

A car loan might also be a good option as the interest is usually charged on a reducing balance. Bit unlike the lease or the hire purchase, the interest rates are usually floating.

It might be worth waiting a week or two as the rates are tipped to drop another 1-2%.

[seejaylk]

hi..

Thanks for replies... Any idea about Interest rates....? heard MR going to reduce rates